Homes sales to a big jump up in October! Richardson is still very much a Seller’s market.

Single-Family:

Homes sales jumped 29% in October as compared to a year ago. The average sales price rose 24% while the median sales price increased by 26%. I know these price increases look astronomical and they are. It is just the law of Supply/Demand. As long as the available inventory (supply) remains below demand prices will continue to rise.

Pending sales were up by 5%. The number of new listings had a healthy increase of 14% while the active listings rose by 12%. Good new on the supply side but the months of inventory only increased to 1.2 months. Still way short of a balanced 6 months.

Sales: 125

Average Sales Price: $258,027

Median Sales Price: $233,000

Pending Sales: 116

New Listings: 121

Active Listings: 121

Months of Inventory: 1.2

Information provided by The Real Estate Center at Texas A&M